MONEY LAUNDERING AS AN ISOLATED PHENOMENON AND LEADING FACTOR IN WHITE-COLLAR CRIMINALITY, PUTS MOLDOVA CASE JUDICIARY ON THE SPOT

Jacob RUB

Abstract

Money laundering is a leading factor in white-collar criminality, with a big effect upon Gross National Product of the Israeli and Moldova economies. Israel and Moldova have made the first steps In order to cope with money laundering phenomenon. The model of handling the phenomenon in the USA has been studied that constitutes a role model of fighting money laundering. The vast majority (77%) of all frauds were committed by individuals working in one of six departments: accounting, operations, sales, executive/upper management, customer service and purchasing. In Moldova, money laundering for the most part is connected to traditional forms and activities sources of illegal proceeds .Moldova is a transit country for money laundering. A money-laundering scandal is casting Moldova’s judiciary in an unfavorable light and is raising concerns about the government’s commitment to reforms needed to keep European Union integration on track. It is a need to address corruption as a national priority, and the priority of the relations between the EU and Moldova. The money laundering scandal indicates that Moldova is reluctant to wade deeply into judicial reform. In fact, the laundered of $20 billion, is an amount more than twice the size of Moldova’s GDP in 2013, and may be that it is just the tip of the iceberg, probably. White-collar criminality in Israel and Moldova means success of coping of the enforcement and judicial systems. In order to cope with this phenomenon, Israel makes its first steps. Anyway, the message must pave the way through a creation of a new model for dealing with reduction the isolated phenomenon of money laundering in both states.